• Bond Funded

    2016 Bond Funded Projects

    • Career & Innovation/Technology projects at $77.7 Million.
    • Five-Year Facility Plan/New Growth projects at $90.75 Million.
    • Safety & Security enhancements at $1.88 Million.
    • Community Investment Maintenance at $79.67 Million.

    Reports on the 2016 Bond Program and the new Fremont Facility

    2016 Bond Program - Report for 1st Quarter FY2018-19

    2016 Bond Program - Report for July 2018

    2016 Bond Program - Report for April 2018

    2016 Bond Program - Report for February 2018

    Fremont Facility - Report for 1st Quarter FY2018-19

    Fremont Facility - Report for July 2018

    Fremont Facility - Report for April 2018

    Fremont Facility - Report for February 2018

  • Capital Reserve

    The Capital Reserve Fund receives transfers from the General Fund for ongoing capital needs of the District such as maintenance improvements to facilities, as well as purchases of equipment, technology related items, and vehicles. These funds continue to be restricted to high priority needs required to enable the safety, security, asset preservation, instructional technology, and basic operation of schools and facilities throughout the Cherry Creek School District.

    2017-18 Capital Improvements

    Capital Improvement Projects without Funding

  • Other (Leases, Certificates of Participation)

    Other District Financing

    Certificates of Participation - 2017

    Bus Lease - 2018

    Technology Lease - 2017

  • Rating Agency Reports

    A credit rating agency is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely principal and interest payments and the likelihood of default. An agency may rate the creditworthiness of issuers of debt obligations, of debt instruments, and in some cases, of the servicers of the underlying debt, but not of individual consumers.

    The debt instruments rated by credit rating agencies include government bonds, corporate bonds, CDs, municipal bonds, preferred stock, and collateralized securities, such as mortgage-backed securities and collateralized debt obligations.

    Cherry Creek School District was last rated by S&P and Moody’s in 2017.  The following narrative summarizes the rating assigned from each entity, followed by individual reports from each.

    Standard and Poor's
    AA+ General Obligation Bonds

    S&P Global Ratings raised its rating from AA to AA+, reflecting their view of the District’s very strong fiscal year 2017 and their expectations of continued strong performance.

     “Debt rated AA+ has a very strong capacity to meet its financial commitments and differs from the highest rated issues only in small degree.”

    Moody's Investors Service
    Aa1 General Obligation Bonds

    Obligations rated Aa1 are judged to be of high quality and are subject to very low credit risk. “The Aa1 rating reflects the District’s diverse economy and favorable location within the Denver MSA, large tax base that is experiencing growth, and its affluent and supportive District residents.  The District continues to maintain healthy reserve levels, and the District benefits from the support of local residents that have passed mill levy overrides to supplement State funding.  The Aa1 rating also incorporates the District’s manageable debt profile and elevated pension burden associated with the State-wide pension plan.

    S&P Global Ratings publication - September 2017

    Moody's Ratings report - September 2017

Last Modified on February 1, 2019